“Consumers have made an irreversible switch from traditional banking channels to digital banking. People not only use online banking more than branches, but see it as the preferential choice for everyday banking and are more satisfied with it than any other channel. The challenge for banks is how to prevent the shift online weakening customer relationships and undermining customer loyalty. This will become even more pressing as Open Banking looms ...
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Overview
Overview
This report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Overview
Executive Summary
Issues and Insights
Market
Market
Mintel provides a range of market information across categories including: forecasting and share information; internal and broader market environment information; and the issues that affect the market in question.
The Market – What You Need to Know
Market Drivers
Consumer
Consumer
Mintel conducts exclusive and original consumer research for reports, bringing up-to-date and unique insight to topical issues. This research examines the impact of social, economic, cultural and psychological influences on consumers.
The Consumer – What You Need to Know
Banking Channels – Frequency of Use
Choice of Banking Channels
Banking Channel Preferences
Satisfaction with Channels
Attitudes towards New Channels
Attitudes towards Customer Engagement
Attitudes towards Branch Closures
Attitudes towards Changing Channels
Brand/Company
Brand/Company
Our brand research provides data and informed analysis across a number of consumer metrics including usage, satisfaction, recommendation, momentum and trust. It also explores consumer attitudes towards brands and examines the reasons behind these.
Companies and Brands – What You Need to Know
Company Profiles
Launch Activity and Innovation
Data
Data
Reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
Appendix – Data Sources, Abbreviations and Supporting Information
31st May 2017
“US-based Iam bank plans to launch in the UK, specifically targeting Millennials. However, unlike most other new challengers, it plans to have its own branch network. The branch is still an important channel for this group, and could be what people need to have the confidence to switch to a ... 
27th April 2017
“A big reason for consumers’ loyalty to the main banks is their high-street presence. Rather than eradicate this advantage, providers should look at ways to transform branches into newer formats that can both reduce overheads and maintain customer relationships”.
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Consumers have forgiven security concerns to reap the benefits of online banking
